55 PLUS INTEREST-ONLY MORTGAGE
OFFER YOUR CUSTOMERS PEACE OF MIND
The Financial Conduct Authority (FCA) estimates that 600,000 borrowers will see their interest-only mortgages maturing before 2020. Of these customers, under half are estimated to have a shortfall, with around a third of these expected to be over £50,000. To meet this shortfall many customers, especially those over 55 will be faced with either selling their cherished family home, or using their pension pots to make up the difference. The Shawbrook 55 Plus Interest-Only Mortgage offers customers aged over 55 a lifeline.
- Stay in the family home for up to an additional 15 years
- Keep their savings in place for longer
- Raise additional funds for a variety of purposes including; landscaping the garden, helping children onto the property ladder and taking a once-in-a-lifetime holiday to name but a few.
- Make overpayments on their mortgage without charge and repay in full at any time, paying only the discharge fee of £120 in England and Wales and £180 in Scotland.
REFER YOUR CASE TODAY
The Shawbrook 55 Plus Interest-Only Mortgage is currently only available through Key Retirement Solutions (KRS). If you have a customer enquiry please contact the Shawbrook team who should be able to help.